Gyeonggi Province "Goyang Ilsan Techno Valley Project Gaining Momentum"

[Suwon Ilbo=Park No-hoon Reporter] The Goyang Ilsan Techno Valley urban development zone designation and development plan (draft) jointly conducted by four organizations—Gyeonggi Province, Goyang City, Gyeonggi Urban Development Corporation, and Goyang Urban Management Corporation—passed the review by Goyang City's Urban Planning Committee on the 20th and is expected to gain significant momentum.

The Goyang Ilsan Techno Valley project, which had shown slow progress since its selection announcement in 2016, has gained traction as a priority project for Gyeonggi Province and Goyang City under the current administration. The proactive cooperation from the Ministry of Land, Infrastructure and Transport has also proven effective. The rapid processing by related agencies, including completion of inter-ministerial consultations and various impact assessments and urban planning review within six months following the development plan application submission in June, attests to this.

In particular, despite the strengthened screening procedures by the Central Land Acquisition Commission under the amended Land Compensation Act as of July 1st, this project secured advance consent from a majority of landowners to ensure smooth review passage. Upon receiving zone designation and business authorization notice concurrent with the completion of development plan by the end of December this year, full-scale negotiated compensation procedures will become possible.

The Goyang Ilsan Techno Valley is being promoted in an area of approximately 850,000 square meters in Beopgot-dong, Ilsanseo-gu, Goyang City to attract innovative companies leading next-generation growth in sectors such as AR/VR industries leading the Fourth Industrial Revolution, ICT-based advanced convergence industries, and broadcast and video content industries.
Approximately 320,000 square meters of land within the business zone is planned as industrial facility land, and the entire complex is planned to be specially developed into four zones (Techno, Science, Business, and Community). Of these, 100,000 square meters of industrial capacity allocated to Gyeonggi Province through the Metropolitan Regulation Committee review in July will be jointly designated as an advanced urban industrial park, and the industrial park designation planning procedures under the 2020 Industrial Location Act will proceed in parallel.
Additionally, 230,000 square meters for knowledge-based industrial land and research facilities, and 75,000 square meters for mixed-use and support facilities have been reflected in the plan.
In particular, public support centers are planned to be built on support facility land, following the success stories of Pangyo Techno Valley and Sangam DMC, to serve as public support work space for tenant companies' business development, financing for startup and growth-stage enterprises, research and development, and support space for fostering strategic industries such as broadcast and video, bio, and ICT sectors.

Gyeonggi Province, Goyang City, and other joint project operators plan to begin compensation work for construction and undergo real project approval procedures in 2020, commence construction in 2021, complete complex development construction by 2023, and complete preparations to welcome companies that will brighten the Goyang Ilsan Techno Valley.